Day: July 30, 2024

WESTFORD, Mass., July 30, 2024 (GLOBE NEWSWIRE) — Kadant Inc. (NYSE: KAI) reported its financial results for the second quarter ended June 29, 2024. Second Quarter Financial HighlightsRevenue increased 12% to a record $275 million Gross margin was 44.4% Operating cash flow increased 25% to $28 million Free cash flow increased 69% to $23 million Net income increased 5% to $31 million GAAP EPS increased 5% to $2.66 Adjusted EPS increased 11% to a record $2.81 Adjusted EBITDA was a record $62 million and represented a record 22.5% of revenue Bookings increased 17% to $252 millionNote: Percent changes above are based on comparison to the prior year period. All references to earnings per share (EPS) are to our EPS as calculated on a diluted basis. Free cash flow, adjusted EPS, adjusted EBITDA, adjusted EBITDA margin, and changes...

FLOYD, Va. and INDEPENDENCE, Va., July 30, 2024 (GLOBE NEWSWIRE) — Skyline Bankshares, Inc. (the “Company”) (OTC QX: SLBK) – the holding company for Skyline National Bank (the “Bank”) – announced its results of operations for the second quarter of 2024. The Company recorded net income of $1.8 million, or $0.33 per share, for the quarter ended June 30, 2024, compared to net income of $2.1 million, or $0.37 per share, for the first quarter of 2024 and net income of $2.8 million, or $0.49 per share, for the same period in 2023. For the six months ended June 30, 2024, net income was $3.9 million, or $0.70 per share, compared to net income of $5.5 million, or $0.98 per share, for the six months ended June 30, 2023. Second quarter 2024 earnings represented an annualized return on average assets (“ROAA”) of 0.69% and an annualized return...

Gradually Improving Demand Amid Soft Macro Conditions; New CEO Outlines Top Priorities PERRYSBURG, Ohio, July 30, 2024 (GLOBE NEWSWIRE) — FOR IMMEDIATE RELEASE                                               O-I Glass, Inc. (“O-I”) (NYSE: OI) today reported financial results for the second quarter ended June 30, 2024.  Net Earnings Attributable to the Company Per Share (Diluted) Earnings Before Income Taxes$M2Q24 2Q23 2Q24 2Q23Reported $0.36 $0.69 $104 $154  Adjusted EarningsEarnings Per Share (Diluted) Segment Operating Profit$M2Q24 2Q23 2Q24 2Q23Non – GAAP $0.44 $0.88 $233 $326“It is a privilege to be O-I’s new CEO. I have spent my career serving the food and beverage industries across the world. I have always appreciated the role of glass packaging in food safety and brand building. O-I does more than...

JACKSONVILLE, Fla., July 30, 2024 (GLOBE NEWSWIRE) — Landstar System, Inc. (NASDAQ: LSTR) (“Landstar” or the “Company”) today reported basic and diluted earnings per share (“EPS”) of $1.48 in the 2024 second quarter on revenue of $1.225 billion. “The Landstar network of independent business owners performed admirably in a challenging freight transportation environment,” said Landstar President and Chief Executive Officer Frank Lonegro. “During the second quarter, we were encouraged to see our first sequential quarter-to-quarter revenue increase since the 2022 second quarter. Revenue in the 2024 second quarter grew 5% sequentially following seven quarters of sequential revenue declines. As we look to build on that momentum, we continue to invest in leading-edge technology and new trailing equipment. We are particularly proud of...

SANTA CLARA, Calif., July 30, 2024 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) today announced revenue for the second quarter of 2024 of $5.8 billion, gross margin of 49%, operating income of $269 million, net income of $265 million and diluted earnings per share of $0.16. On a non-GAAP(*) basis, gross margin was 53%, operating income was $1.3 billion, net income was $1.1 billion and diluted earnings per share was $0.69. “We delivered strong revenue and earnings growth in the second quarter driven by record Data Center segment revenue,” said AMD Chair and CEO Dr. Lisa Su. “Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC and Ryzen processors. The rapid advances in generative AI are driving demand for more compute in every market,...

Net income available to common stockholders of $11.9 million and $31.2 million for the three and six months ended June 30, 2024, respectively, or $0.20 and $0.52 per diluted share, respectively. Funds from Operations (“FFO”) per diluted share increased 2% and 6% year-over-year for the three and six months ended June 30, 2024, respectively, or $0.60 and $1.32 per diluted share, respectively. Increased 2024 FFO per diluted share guidance to a range of $2.48 to $2.54 with a midpoint of $2.51, a 9.6% increase over prior guidance. CEO Succession Planning – Ernest Rady to transition to Executive Chairman and Adam Wyll to transition to Chief Executive Officer, effective January 1, 2025. SAN DIEGO, July 30, 2024 (GLOBE NEWSWIRE) — American Assets Trust, Inc. (NYSE: AAT) (the “company”) today reported financial results...

FRISCO, TX, July 30, 2024 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) today reported financial and operating results for the quarter ended June 30, 2024. Highlights of 2024‘s Second QuarterVery weak natural gas prices weighed heavily on the second quarter financial results. Natural gas and oil sales, including realized hedging gains, were $278 million. Operating cash flow was $118 million or $0.41 per diluted share. Adjusted EBITDAX for the quarter was $167 million. Adjusted net loss was $58.2 million or $0.20 per share for the quarter. Enhanced liquidity with $400 million, 6.75% senior notes issuance. Steady results from the Haynesville shale drilling program with 15 (14.4 net) operated wells turned to sales since the Company’s last update with an...

HOUSTON, July 30, 2024 (GLOBE NEWSWIRE) — Powell Industries, Inc. (NASDAQ: POWL), a leading supplier of custom-engineered solutions for the management, control and distribution of electrical energy, today announced results for the third quarter of fiscal 2024 ended June 30, 2024. All comparisons are to the third quarter of fiscal 2023, unless otherwise noted. Third Quarter Key Financial Highlights:Revenues totaled $288 million, an increase of 50%; Gross profit of $82 million, or 28.4% of revenue; Net income of $46 million, or $3.79 per diluted share; New orders(1) totaled $356 million, spread broadly across our key end markets; Backlog(2) as of June 30, 2024 remained at $1.3 billion; Cash and short-term investments as of June 30, 2024 totaled $374 million.Brett A. Cope, Powell’s Chairman and Chief Executive Officer, stated,...

INDIANAPOLIS, July 30, 2024 (GLOBE NEWSWIRE) — Kite Realty Group Trust (NYSE: KRG), a premier owner and operator of high-quality, open-air grocery-anchored centers and vibrant mixed-use assets, reported today its operating results for the second quarter ended June 30, 2024. For the quarters ended June 30, 2024 and 2023, net loss attributable to common shareholders was $48.6 million, or $0.22 per diluted share, compared to net income of $32.1 million, or $0.15 per diluted share, respectively. For the six months ended June 30, 2024 and 2023, net loss attributable to common shareholders was $34.5 million, or $0.16 per diluted share, compared to net income of $37.4 million, or $0.17 per diluted share, respectively. The net loss for the quarter and six months ended June 30, 2024 was driven by a $66.2 million impairment charge associated...